question and answer from pt, page-15

Copy of post on other tread highlighting ADY was forecasting to increase production to a total of 10 MTPA sometime in 2009:

In the September Presentation, ADY held 60% of Santa Barbara.

Therefore for 2008:

Forecast Production 2.4 MT @ US$45 per tonne
Revenue US$108 M;

He doesn't provide a figure for forecast operating profit for 2008, so cannot work out the implied operating costs of the operation for this year.

For 2009:

Forecast Production:
Santa Barbara 7.2 MT
Santa FE 2.8 MT
Total 10.0 MT

Revenue (FOB) US$450M

Therefore price US$45.00 per tonne (=450/10.0)

Operating Profit US$112.5M ( from ADY's 60% = US$67.5M)

=> Operating Expenses US$337.5M

=> US$33.75 per tonne average


Regards

SP